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Finnish IQM Quantum Computers raises $45 million

Espoo-based IQM Quantum Computers, the European leader in building superconducting quantum computers, has raised $45 million in Series A funding, bringing the total amount of funding raised to date to $83 million. The round was led by MIG Fonds with participation from all existing investors including Tesi, OpenOcean, Maki.vc, Vito Ventures, Matadero QED, and some new investors such as Vsquared, Salvia GmbH, Santo Venture Capital GmbH, and Tencent.

Image credits: IQM

Founded in 2018 by CEO Jan Goetz, COO Juha Vartiainen, CTO Kuan Yen Tan, and Chief scientist Mikko Möttönen, IQM delivers on-premises quantum computers for research laboratories and supercomputing centers and provides complete access to its hardware. For industrial customers, IQM delivers quantum advantage through a unique application-specific co-design approach. The company is aimed to build world-leading quantum computers for the wellbeing of humankind now and for the future.

This raised money will be used to accelerate hardware development and to design application-specific quantum computers. Also, the company wants to use the funding to attract and retain the best global talent in quantum computing and to establish sales and business development teams.

”Today’s announcement is part of our ongoing Series-A funding round. I am extremely pleased with the confidence our investors have shown in our vision, team, product, and the ability to execute and commercialize quantum computers. This investment also shows their continued belief in building the future of quantum technologies. This is a significant recognition for our fantastic team that has achieved all our key milestones from the previous round. We’re just getting started,” said Jan Goetz, CEO of IQM.

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